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Debt management weekly roundup

14/01/2011

Well we're only just halfway through the first month of 2011, but already it seems familiar habits regarding debt problems have begun to rear their ugly head.

And that's because people getting themselves into debt problems may be all-too laid back about their circumstances, when levels of debt begin to mount up.

The Financial Safety Net report from Scottish Provident, the typical UK borrower only begins to worry about his or her debt problems when their debts exceed a figure of nearly £16,000.

Meanwhile, people struggling with debt problems because of their mortgage payments are being urged to speak with their lenders about a debt solution.

The director of myMortgageDirect.co.uk, Catherine Hearnden, director says she's concern at the amount of homeowners with their head stuck in the sand.

But research elsewhere shows the average Brit is looking to avoid debt problems this year by making cuts to their lifestyles.

A study from Allianz UK shows 70 per cent of Brits are looking to make cuts to their outgoings.

Three quarters will cut entertainment spending, just over half say they'll switch energy providers, while three in ten plan to rein in their internet, phone and telephone spending. ADNFCR-2613-ID-19951143-ADNFCR